Ask A QuestionHow can data breach insurance help my store?

Q: How can data breach insurance help my store?

A: Verizon's 2015 Data Breach Investigations Report found that 31 percent of hacks target POS systems, while another one-third come from denial-of-service attacks which can compromise online stores. What does that mean? Retailers are a prime target for data breaches.

If your point-of-sale system or online store is hacked and your customers' data is stolen, your business's reputation and budget could take a huge hit. You'd have to pay out of pocket for IT repairs and services that will protect your customers from identity theft.

Cyber Liability Insurance / Data Breach Insurance may offer financial protection for retailers by paying to "clean up" a data breach and covering the following costs:

Credit monitoring services.

PR and crisis management assistance.

IT patching and repairs.

As we've seen with other major retailers, data breaches can be extremely costly. While Cyber Liability Insurance won't prevent a data breach, it may help you cover the tremendous costs that come when your credit card or online payment system has been hacked.